Common use of Accounts Covered by FDIC Insurance Clause in Contracts

Accounts Covered by FDIC Insurance. Deposit insurance protection covers funds on deposit in any checking or other transaction account, savings account, or time deposit account maintained with the Bank. This insurance protection is provided by the Federal Deposit Insurance Corporation (“FDIC”), an agency of the United States government. The standard insurance amount provided by the FDIC is $250,000 per depositor, for each account ownership category. Federal law provides for separate insurance coverage of up to $250,000 for “self-directed” retirement accounts. A “self-directed” retirement account is an account for which the owner, not a plan administrator, has the right to direct how the funds are invested, including the ability to direct that the funds be deposited at a specific FDIC-insured bank. A depositor may increase the amount of deposit insurance that is available by having funds in deposit accounts held in different rights and capacities (or ownership forms). For example, joint accounts, fiduciary accounts, and Individual Retirement Accounts offer opportunities for increasing the amount of FDIC insurance above that which would be available for individual accounts. Funds that are owned by a business that is a “sole proprietorship” and deposited in the name of the business are treated as the individual account of the person who is the sole proprietor. They are added to other individual accounts of that person for purpose of calculating the applicable FDIC limit. Simply opening more than one account in the same name or names does not increase the amount of deposit insurance. Whether a particular ownership form is right for you depends on your particular financial circumstances, the circumstances of co-owners or beneficiaries, and tax considerations. For more specific and detailed information pertaining to your FDIC insurance coverage, you should contact your personal financial advisor. You may also visit the FDIC web site at xxx.xxxx.xxx. This website has many helpful tools including a brochure titled “Your Insured Deposits – FDIC’s Guide to Deposit Insurance Coverage”, and an online Electronic Deposit Insurance Estimator. You may also contact the Federal Deposit Insurance Corporation by mail at 000 00xx Xxxxxx X.X., Xxxxxxxxxx, X.X. 00000, or by telephone at 0-000-XXX-XXXX (0-000-000-0000). A Personal Banking Representative or your Relationship Manager can provide information regarding maximizing your FDIC insurance coverage.

Accounts Covered by FDIC Insurance. Deposit insurance protection covers funds on deposit in any checking or other transaction account, savings account, or time deposit account maintained with the Bank. This insurance protection is provided by the Federal Deposit Insurance Corporation (“FDIC”), an agency of the United States government. The standard insurance amount provided by the FDIC is $250,000 per depositor, for each account ownership category. Federal law provides for separate insurance coverage of up to $250,000 for “self-directed” retirement accounts. A “self-directed” retirement account is an account for which the owner, not a plan administrator, has the right to direct how the funds are invested, including the ability to direct that the funds be deposited at a specific specific FDIC-insured bank. A depositor may increase the amount of deposit insurance that is available by having funds in deposit accounts held in different rights and capacities (or ownership forms). For example, joint accounts, fiduciary fiduciary accounts, and Individual Retirement Accounts offer opportunities for increasing the amount of FDIC insurance above that which would be available for individual accounts. Funds that are owned by a business that is a “sole proprietorship” and deposited in the name of the business are treated as the individual account of the person who is the sole proprietor. They are added to other individual accounts of that person for purpose of calculating the applicable FDIC limit. Simply opening more than one account in the same name or names does not increase the amount of deposit insurance. Whether a particular ownership form is right for you depends on your particular financial financial circumstances, the circumstances of co-owners or beneficiariesbeneficiaries, and tax considerations. For more specific specific and detailed information pertaining to your FDIC insurance coverage, you should contact your personal financial financial advisor. You may also visit the FDIC web site at xxx.xxxx.xxx. This website has many helpful tools including a brochure titled “Your Insured Deposits – FDIC’s Guide to Deposit Insurance Coverage”, and an online Electronic Deposit Insurance Estimator. You may also contact the Federal Deposit Insurance Corporation by mail at 000 00xx Xxxxxx X.X., Xxxxxxxxxx, X.X. 00000, or by telephone at 0-000-XXX-XXXX (0-000-000-0000). A Personal Banking Representative or your Relationship Manager can provide information regarding maximizing your FDIC insurance coverage.

Accounts Covered by FDIC Insurance. Deposit insurance protection covers funds on deposit in any checking or other transaction account, savings account, or time deposit account maintained with the Bank. This insurance protection is provided by the Federal Deposit Insurance Corporation (“FDIC”), an agency of the United States government. The standard insurance amount provided by the FDIC is $250,000 per depositor, for each account ownership category. The $250,000 limit is permanent for certain retirement accounts (includes IRAs) and is temporary for all other deposit accounts through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all deposit accounts except certain retirement accounts, which will remain at $250,000 per depositor. Federal law provides for separate insurance coverage of up to $250,000 for “self-directed” retirement accounts. A “self-directed” retirement account is an account for which the owner, not a plan administrator, has the right to direct how the funds are invested, including the ability to direct that the funds be deposited at a specific FDIC-insured bank. A depositor may increase the amount of deposit insurance that is available by having funds in deposit accounts held in different rights and capacities (or ownership forms). For example, joint accounts, fiduciary accounts, and Individual Retirement Accounts offer opportunities for increasing the amount of FDIC insurance above that which would be available for individual accounts. Funds that are owned by a business that is a “sole proprietorship” and deposited in the name of the business are treated as the individual account of the person who is the sole proprietor. They are added to other individual accounts of that person for purpose of calculating the applicable FDIC limit. Simply opening more than one account in the same name or names does not increase the amount of deposit insurance. Whether a particular ownership form is right for you depends on your particular financial circumstances, the circumstances of co-owners or beneficiaries, and tax considerations. For more specific and detailed information pertaining to your FDIC insurance coverage, you should contact your personal financial advisor. You may also visit the FDIC web site at xxx.xxxx.xxx. This website has many helpful tools including a brochure titled “Your Insured Deposits – FDIC’s Guide to Deposit Insurance Coverage”, and an online Electronic Deposit Insurance Estimator. You may also contact the Federal Deposit Insurance Corporation by mail at 000 00xx Xxxxxx X.X., Xxxxxxxxxx, X.X. 00000, or by telephone at 0-000-XXX-XXXX (0-000-000-0000). A Personal Banking Representative or your Relationship Manager can provide information regarding maximizing your FDIC insurance coverage.